Sunday, December 28, 2014

Amarr Station Trader #2: Skill books are the original ISK doubler

It has been about two and a half days since I created Amarr Station Trader and began trading. In that short period of time, I have increased my total wealth from a meager 5,000 ISK to 2,371,037 ISK - an increase of 47,320.74% in wealth. I owe the vast majority of that increase to a discovery I made while in a desperate situation.

In the first 12 hours of trading, I quickly discovered that 5,000 ISK is a very small amount of money to begin station trading with. I initially invested into ammunition, since smaller ammunition tends to have a relatively high movement and can have decent margins, but quickly discovered that the ammunition market in Amarr is also very busy; I was having a lot of difficulty keeping my buy and sell orders on top. An issue I quickly ran into was the broker's fee for updating sell orders: every time you update a sell order, you are charged 100 ISK for updating that order. For most players in Eve, 100 ISK is negligible, but I soon found myself unable to update my sell orders at all because I did not have the funds to do so.

My financial issues changed while I was perusing the market for skillbooks. I noticed that the Repair Systems skillbook (and, ironically, the Trade skillbook) had an incredibly huge margin between them; The highest buy order for the Repair Systems skillbook is about 500 ISK, while the lowest sell order is about 33,500 ISK. Not only that, but the number of books that move on a daily basis is also relatively high - this is easily attributable to the Christmas deals that CCP has been running on new accounts, as well as CCP's Christmas gift of allowing all players to train a second character on active accounts with 20 days of free skill queue time.

Needless to say, I sold off all my investments in the ammunition market and quickly moved to the skillbook market. My speculations turned out to be correct, and now I am significantly richer than I was previously. I will no longer run into any financial issues while attempting to update my sell orders!

One thing that I am going to start doing at the end of each of my posts is keeping track of my overall wealth. There are a multitude of ways to calculate a person's wealth, but I have settled on the formula below:
Wealth = Escrow + Wallet + (Sell Order Total * 0.8)

This formula is inspired by Croda, as it is the method he used to calculate his wealth when he initially started his blog. It is fair and accurate, as it takes a 20% provision to the total ISK invested in sell orders. This is necessary because items that I am selling are not ISK, but are valued in ISK; this value is determined by the market. However, most of the items that I am selling have a margin of 20%, which means that the items can easily be translated back to ISK by selling them to buy orders. This allows me to accurately track the accumulation of my wealth over time and prevents me from cheating the system (for example, by purchasing a 500 ISK Repair Systems skillbook and putting it on a sell order for 1 billion ISK to artificially increase my wealth.)

Current Wealth: 2,371,037 ISK

*EDIT: I discovered a miscalculation with my percent wealth increase and have corrected it.

1 comment:

  1. Trading skillbooks is one of the best ways for a new player to make a lot of ISK. Here's a link to a blog article I wrote on the topic that you might find helpful.